Flytxt Secures $11 Million Investment for Next Phase of Growth

Flytxt, a fast growing Big Data Analytics solution provider, today announced that it has closed an $11 million (INR 70 Crore approx.) funding round to finance its next phase of growth. The investment was led bySunrise Capital GmbH and Big Data Investments B.V. with participation from Flytxt’s existing investors.

Launched in 2008, Flytxt has previously received funding from a group of angels and family offices in Germany and The Netherlands. The new investment will support Flytxt’s plans to consolidate its presence in the Communication Service Provider (CSP) market and to offer mobile consumer analytics solutions to other industry verticals. The company plans to double its team throughthe next phase of growth.

“We are delighted to welcome Dr.Brigitte Mohn and Frits Van Dedem on our Board. Their rich business leadership experience will be a significant asset for Flytxt in the next phase of our growth”, said, Joerg Swoboda, Chairman, Flytxt. “The company already has a unique standing in Big Data Analytics market with a sustainable business model, proven technology, impressive customer base and an exceptional team. And the potential is huge.” he added.

Flytxt’s proprietary Big Data Analytics solutions have enabled many leading global Communication Service Providers (CSPs) and brands to increase sales and revenues, optimize margins and enhance customer experience. Flytxt now aims to grow its product portfolio for CSPs to generate higher economic value, and leverage its proven technology to expand to other industry verticals.

About Flytxt

Flytxt is a fast growing Big Data Analytics solution provider for Communication Service Providers (CSPs) and Mobile Enterprises across the globe. The company offers full suite of internal and external monetization solutions for increasing revenue, optimizing margins and enhancing customer experience. Flytxt offers solutions with full service delivery model combining Technology, Consulting and Execution to deliver guaranteed economic impact to its customers. The company has deployed its platforms with more than 50 customers across 32 countries, analysing data of more than 500 million mobile consumers, delivering 2 to 7% economic impact consistently. Flytxt has its headquarters in the Netherlands, corporate office in Dubai and also presence at Mumbai, Trivandrum, London, Singapore, Lagos, Nairobi, Dhaka and Mexico City.

Mohit Bansal@ISM
Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then.
Currently Mohit is working with Mu Sigma as a Business Analyst Profile.